At first blush one would assume that Forex coaches help their proteges most by exposing them to good techniques and tips. One would expect a trader who has made a great deal of money for himself and others would have a whole slate of special tricks of the trade. It's true, many Forex coaches are an excellent source for tested strategies and ideas. However, you might be surprised to discover a little secret about Forex coaching.
Many relatively new traders spend countless hours searching for the Holy Grail of Forex strategies. They go through untold dollars looking for that "one strategy" that's going to be profitable nearly every time. They attend seminars, they spend time on forums, and they buy books and tapes. They do all this in the hope of finding the ideal Forex strategy or system. And a coach provides a shortcut to finding it, right?
Wrong. I've been there, I know. I too believed that if I could just find the perfect combination, it would all be easy -- the right indicators, the right trading strategy, the right Money Management techniques. No one could have persuaded me otherwise -- that is, until my epiphany. But that's another story.
When we focus on uncovering the "perfect strategy" we blindly pass over many very profitable strategies. Many potentially profitable trading strategies never get the opportunity to prove their effectiveness. Our latest strategy fails two or three times in a row and we assume it's not "the One" and we resume our quest. Listen closely: You must understand that what you seek and what you need are two very different things.
One of the top benefits of Forex coaching is that a coach can guide you to the understanding that the secret to Forex success is not necessarily in the strategy or the indicator -- it's within you. Your trading world-view must change. You must let go of your quest for the Forex Holy Grail. Once your horizons are broadened on this (and one other) issue, you will realize that all those seemingly worthless Forex grails you've been tossing in the junk pile... were all made of gold.
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